What is acceptance in contract law

If the person offering decides to revoke their offer prior to receiving your acceptance, but after you sent it, your acceptance is valid. The fact you sent your acceptance before you received the person's revocation makes that revocation ineffective. This is called the mailbox rule. A revocation can be expressly stated, or it can be implied. For example, if someone offers to sell you something but prior to your acceptance of the terms of sale that person sells the item to someone else, the offer is automatically revoked.

The seller did not have to notify you of any intent to revoke or withdraw the offer. If you need help with elements of acceptance in contract law, you can post your legal need on UpCounsel's marketplace. If it is a written offer, it can only officially be accepted in writing. Once you have accepted goods by receiving them, you are agreeing to the sale. When acceptance is determined it often involves a factual agreement that was entered into. If you accept a bill exchange, you are acknowledging your acceptance to the agreement with the person that had the bill drawn.

In the law of sale, acceptance of goods does not occur until the buyer has had a limited right to examine the goods. This allows the buyer time to make sure that the goods are in line with the agreement of the contract. This ensures that once the goods have been expected there can be no rejection later. The Sale of Goods Act lays out the variety of ways which acceptance can be deemed to have taken place. Sharga shares why the current market is different from the one that preceded the housing crisis.

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